The bulls charge into October
The first trading day of October saw markets turn 180 from the previous week and rally strongly. The S&P jumped 2.59%, the Nasdaq 2.27% to 10,815 and the Dow 2.66% but stayed below 30,000. There was green across the board as September’s bearish sentiment suddenly turned bullish.
On Wall Street, the most influential names were Apple up 3.27%, Tesla at -8.17%, Carnival -2.25%, AT&T 3.78%, Ford 2.46% and AMD jumping 4.62%. Unsurprisingly, the U.S. 10-year yield lost ground and fell to 3.659%. Bitcoin also rallied, adding 1.4% to $19,500.
Bullishness and rumours of OPEC slashing oil output by one million barrels a day (the largest since 2020), sent the TSX leaping 2.42%, though not enough to return it to 19,000. WTI soared 4.7% to $61 and WCS leapt 5.66% to $61. In Toronto, all the sectors were green, led by energy and consumer staples. The biggest movers were TD up 1.95%, Suncor 7.35%, TC Energy up 3.95%, Baytex 7.86%, Algonquin Power 3.31% and Saputo -3.17%.
🍎 Apple (AAPL-Q) +3.27%
🚗 Tesla Motors Inc (TSLA-Q) -8.17%
🚢 Carnival Corp. (CCL-N) -2.25%
📱 AT&T (T-N) +3.78%
🚘 Ford Motor (F-N) +2.46%
💾 Advanced Micro Devices (AMD-Q) +4.62%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1.4%
🏛 Toronto Dominion (TD-T) +1.95%
🛢 Suncor Energy Inc (SU-T) +7.35%
🛢 TC Energy (TRP-T) +3.95%
🛢 Baytex Energy Corp (BTE-T) +7.86%
💡 Algonquin Power & Utilities Corp (AQN-T) +3.31%
🐟 Saputo Inc. (SAP-T) -3.17%
